The Central Government has announced that the National Bank for Financing Infrastructure and Development Act, 2021, will officially come into force on 19th April 2021. This commencement date applies to a significant number of sections within the Act, paving the way for the establishment and operation of the new development finance institution.
The Central Government hereby appoints the 19th day of April 2021, as the date on which the provisions of the below mentioned sections ofthe National Bank for Financing Infrastructure and Development Act, 2021 Act shall come into force. Read the official notification below:
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 16th April, 2021
S.O. 1657(E). - In exercise of the powers conferred by sub-section (3) of section 1 of the National Bank for Financi
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FAQ :
The Act comes into effect from the 19th day of April 2021.
The Central Government appointed the effective date.
The official notification number is S.O. 1657(E).
The notification was issued on the 16th of April, 2021.
A significant number of sections of the Act, as listed in the notification, will come into force on April 19th, 2021. It does not explicitly state that the entire Act comes into force.